YES....the nasty CORRECTION continues. I dont care about the (-10%) definition. This is a correction pure and simple. As others have said......"I" will also do nothing. At this point everything is just....on paper. We are seeing a DUMB market....just jerking itself around based on news, innuendo, and idiocy.....every day recently. I will do a few posts....before I start to get ready to head out for surgery later today.
As to the constant and obnoxious everyday commentary about.....where is the impact of AI? Here is where it is.....it is embedded everywhere. It is one factor that is responsible for the HUGE HISTORIC earnings that companies are posting right now. I dont care if the markets wish to recognize there earnings....they are HAPPENING regardless. Microsoft's $41 billion AI bet just cleared a major test: Chart of the Day https://finance.yahoo.com/markets/a...-a-major-test-chart-of-the-day-100000116.html AND Microsoft stock surges on strong quarter, record cloud revenue https://finance.yahoo.com/markets/s...g-quarter-record-cloud-revenue-123002444.html
As to the INFLATION BS. US economic growth slows in second quarter, missing expectations https://finance.yahoo.com/economy/articles/us-economic-growth-slows-second-132740621.html ....."On Thursday, BEA data showed that Personal Consumption Expenditures (PCE) inflation had slowed to 3.7 percent in June, from 4.1 percent the month before. The indicator is the US Federal Reserve's preferred gauge of inflation, as it takes into account a broader swathe of spending than the Consumer Price Index (CPI) data."..... In the world of REALITY.....this inflation reading is right in line with the HISTORIC NORMS. The above is more good news.
META does a very good job of TALKING. AND....for some reason the markets and the media just nod and go along......and the stock goes up. On the other hand MSFT does a TERRIBLE job of communicating but....puts up great results....which are of course....IGNORED. FINALLY reality hits for META. Meta stock sinks 10% on earnings miss, 'barely passable' quarter https://finance.yahoo.com/markets/a...s-miss-barely-passable-quarter-124851083.html
I STRONGLY agree.....from an ECONOMIC standpoint....as well as a lifetime of LIVING this in person. The Laffer Curve More Relevant Today Than Ever More government revenue is generated by a wider and more robust tax base. https://www.americanthinker.com/articles/2026/07/the-laffer-curve-more-relevant-today-than-ever/ ......"poor tax policy is behind the many countries’ economic problems. The Laffer Curve encapsulates precisely that. At a time of rising economic populism on both sides of the American political spectrum, the Laffer Curve offers a conservative alternative: low taxes, a simplified tax code, more economic freedom and a pivot towards growth-based economics once again.".....
A basic lesson.....that is still relevant today and usually forgotten. Adam Smith’s ‘Wealth of Nations’ Helped Create the World’s Wealthiest Nation Smith’s classic book helped unleash the market forces that took root first and deepest in America. https://www.barrons.com/articles/adam-smith-wealth-of-nations-36cabcc0?st=U6doty
Speaking of capitalism and to continue the theme above. Why Capitalism Is the Most Moral Economic System "Success comes from meeting the needs and wants of others," says businessman and publisher Steve Forbes. https://reason.com/2026/07/29/why-capitalism-is-the-most-moral-economic-system/
I think it probably is. Although this little article sees HOPE for Value Investing. Is Value Investing Dead? Cheap stocks have not performed well, but the core idea is still sound. https://www.morningstar.com/funds/is-value-investing-dead
A great open today for the markets and the big averages. BUT....as usual.....I dont trust it. I do think it is fully JUSTIFIED and what we saw yesterday was just IDIOTIC. But these days.....IDIOTIC...is the short term NORM in the markets. Dow, S&P 500, Nasdaq rebound after Fed decision, as Microsoft leads tech gains https://finance.yahoo.com/markets/l...sday-july-30-dow-sp-500-nasdaq-082255995.html
OK.....ENJOY THE DAY. I will probably mostly IGNORE this site for the rest of the week....post surgery.......MAKE ME SOME MONEY. I have to admit it is GREAT to simply do nothing and IGNORE the day to day markets.
